Dyne Therapeutics (NASDAQ:DYN) Price Target Lowered to $38.00 at HC Wainwright

Dyne Therapeutics (NASDAQ:DYN) had its target price decreased by HC Wainwright from $46.00 to $38.00 in a research note released on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Chardan Capital reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Friday. Piper Sandler reduced their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Scotiabank started coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $46.85.

Dyne Therapeutics Trading Up 1.2 %

NASDAQ DYN opened at $11.44 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of -3.21 and a beta of 1.19. The business’s 50-day moving average price is $10.37 and its two-hundred day moving average price is $18.17. Dyne Therapeutics has a 12 month low of $6.36 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the sale, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 6,237 shares of company stock valued at $77,760. Insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new position in Dyne Therapeutics during the fourth quarter worth about $42,408,000. Norges Bank purchased a new stake in shares of Dyne Therapeutics during the 4th quarter valued at approximately $22,384,000. Point72 Asset Management L.P. boosted its holdings in Dyne Therapeutics by 802.3% in the 4th quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company’s stock worth $21,785,000 after buying an additional 822,201 shares during the period. Vanguard Group Inc. grew its stake in Dyne Therapeutics by 10.5% in the 1st quarter. Vanguard Group Inc. now owns 7,406,344 shares of the company’s stock valued at $77,470,000 after buying an additional 702,418 shares in the last quarter. Finally, Braidwell LP bought a new stake in Dyne Therapeutics during the 4th quarter valued at $16,049,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.